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“The Importance and Awesome Power of Project Management in Today’s Business Environment”
| Guest post by: Glenn Ebersole |
Article Overview: Why is project management important and what awesome power exists with project management in today’s business environment? The first reasons that come to my mind about why project management is important (based upon more than 35 years of my personal project management experience), are tighter budgets, diminishing resources, more and more time constraints, and competition to improve the ways we do business. The awesome power of project management makes it possible to focus on priorities, track and measure performance, overcome challenges and problems, become flexible enough to adapt to change and achieve higher performance and a higher probability of success in each project.
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“The Importance and Awesome Power of Project Management in Today’s Business Environment”
“The Importance and Awesome Power of Project Management in Today’s Business Environment”
By: J. Glenn Ebersole, Jr., Founder & Chief Executive of J. G. Ebersole Associates and The Renaissance Group ™
Why is project management important and what awesome power exists with project management in today’s business environment? The first reasons that come to my mind about why project management is important (based upon more than 35 years of my personal project management experience), are tighter budgets, diminishing resources, more and more time constraints, and competition to improve the ways we do business. The awesome power of project management makes it possible to focus on priorities, track and measure performance, overcome challenges and problems, become flexible enough to adapt to change and achieve higher performance and a higher probability of success in each project.
What do we mean by a project? A project can be defined as an endeavor with a clear start and finish, a set of defined goals and objectives and a sequence of activities. Some examples of projects include constructing a new facility, developing a new product or service, restructuring your business organization, planning a special event, developing a strategic plan, planning a move, rearranging the office floor plan, etc.
Project management is applicable to many industries and organizations. Some key industries that use project management include: telecommunication, construction, information technology, software development, banking, manufacturing, professional engineering and architecture, computers, etc.
What do we mean by project management? Project management is a discipline and a process. It is a set of tools and techniques that define a project’s goals, plan all work to reach the goal, lead the project and support teams, monitor progress and optimize the use of resources (time, people, money, etc.) in order to reach and exceed the customer’s expectations from that project.
What is special about project managers? Project managers need to be very skilled in the management of communications, human resources, procurement, quality, time, cost,
documentation, systems integration, etc.
Project management is very important in today’s business environment when one considers the consequences of the absence of good project management or when project management is poorly applied to projects. Here are some of the consequences that can be experienced with the lack of or poor project management: missed deadlines, cost overruns, poor workmanship, conflicts among team members, redoing work to correct errors, unclear directions for the project, continuous changes in project scope, forgotten key tasks, poor morale of team, duplication of effort, etc. Because of these potential consequences, project management is critical to a project’s success. Effective project management will help: meet or exceed customer expectations, maximize the use of your resources (time, people, money, space, etc.), bring the project to a successful conclusion on time and within budget, document what was done for any need of future reference, and build confidence in your team for future projects.
Would you like to increase the probability of success for your next project? Would you benefit by learning more about project management and how it can be applied to your projects? Would you like to increase your value to your business or organization by becoming proficient in project management? If you answered YES to any of these questions, please contact me today through my website at www.renaissanceman4u.com
or by email at jgecoach@aol.com
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About the Author: Glenn Ebersole RSS for Glenn's articles - Visit Glenn's website Click here to visit Glenn's website   How To Know When To Fire A Client Or Customer According To Your Strategic Thinking Business Coach A Strategic Look At Email Subject Lines From Your Strategic Thinking Business Coach Essential Ingredients For An Effective Ad BUILDING UP OR SELECTIVELY DEMOLISHING AN IMAGE Strategic Benefits of Business Coaching According To Your Strategic Thinking Business Coach |
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- Thank you LeoOliveros,
I found #4 particularly true in my case:
4. The Enterprise Must Include the Power of Power Networks.
As a conductor of your own enterprise, you can not see yourself as a one-woman-show. You must choose to utilize the power people in your life, by asking for help when you need it, and effectively delegating in order to capitalize on your strengths and that of your power network. When certain experts are not represented in your power network, you must actively seek advisors or mentors and develop a team of specialists, so the benefits are received by everyone involved in the power network - the true Power of Power Networks.
Your Intial Mistakes Business
- Hi,
When I started my business I had made a lot of mistakes initially. These helped me in learning the art of the trade and today when I look back, I feel that these mistakes were quite silly. I had made my learnings then and those
learnings have helped me time and again.
Some of the mistakes I made were -
i. Wrong Time Management
ii. Wasting money on glossy Brochures and Business cards
iii. Believing what they taught me at school was 100% correct
iv. Giving too much when it was not required......
I would like to find out what have been your faltering moments in Business when you had started and what/how did they help you grow.
Regards
No B.S. Time Management
- A great book I read on Time Management is No B.S. Time Management for Entrepreneurs by Dan Kennedy.
Napoleon on Project Management
- Why do I include this in a list of books aimed at female entrepreneurs? Well...in the expectation that there are as many female history buffs as male ones, and in the belief that anyone interested in history will find this book fascinating, while those interested in project management will learn a thing or two.
I think this was the first "gimmick" book - an author using a historical figure (usually a male, military figure, it must be admitted) to talk about modern day business management. I refuse to read any of the kind that advocates - even obliquely - the techniques of the Sopranos or the Mossad - but these military ones are pretty fun.
Anyway:
Only in the understanding of history, Napoleon might say, do we gain an understanding of strategy in the present. In the same spirit, Napoleon on Project Management offers the recipe for successfully managing your commitments using the strategies, tactics and priorities that propelled Napoleon himself to victory. [The book doesn't gloss over how Napolean eventually fell in defeat, of course, and there's lessons to be learned there as well.
TOC
Foreword by Douglas James Allan (Napoleanic Society of America)
1. The Rise to Power
-The Skills to Succeed
-A Compelling Vision
-Diplomacy and Networking
-Lessons from the Great Campaigns
2. Napoleon's 6 Winning Principles
-Introduction
-Exactitude
-Speed
-Flexibility
-Simplicity
-Character
-Moral Force
3. The Downfall
-What Went Wrong
-Lessons from the Russian Invasion and Waterloo
-The Four Critical Warning Signs
-Napoleon's Legacy
My entry
- 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read
- this is a fascinating book about the history of Business theory, and I'd recommend it to anybody.
2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto.
3. PADI: The Business of Diving Book
Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
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